Top Lenders & Best Picks for You

Best Personal Loans in Minneapolis, MN

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Reviewed byEmma Thomas
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Updated: December 28, 2023

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MoneyGeek's Picks for Best Personal Loan Lenders in Minneapolis, MN

MoneyGeek evaluated personal loan companies using over 30 data points to help you determine the best personal loans in Minneapolis. We researched the lenders’ credit score and income requirements, interest rates, how much you can borrow, loan repayment terms, disbursement period and whether it charges additional fees and penalties.

Based on our research, LightStream is the best overall lender in Minneapolis. However, the best lender for you depends on your needs, which is why we also outlined our top picks for different borrower profiles.

Best Overall Personal Loan Lender in Minneapolis: Lightstream

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Best Personal Loan Lender for Bad Credit in Minneapolis: Upstart

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Best Personal Loan Lender for Good Credit in Minneapolis: SoFi

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Best Personal Lender for Debt Consolidation in Minneapolis: Upgrade

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Best Personal Lender for Home Improvement in Minneapolis: Best Egg

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What to Do if You Can’t Get a Personal Loan in Minneapolis

Don’t be discouraged if your personal loan application is rejected. This is not uncommon and there are many reasons why lenders might deny personal loan applications in Minneapolis. These include a low FICO score, insufficient income or a high debt-to-income ratio.

MoneyGeek suggests that you contact your lender to find out why they declined your loan application. Ask to speak directly with a representative to discuss how you could improve your chances of getting approved. Consider tweaking your application to make it more appealing, like decreasing the loan amount or going for a shorter payment term. Alternatively, you could either reapply to the same company or get a personal loan elsewhere.

Even if you need extra cash quickly, we strongly caution against predatory financial products, especially payday loans. These short-term loans will gladly give you funding, but at very high interest rates.

Frequently Asked Questions About Personal Loans in Minneapolis

The best personal lender in Minneapolis depends on your unique needs as well as your credit history and income profile. MoneyGeek answered some of the most commonly asked questions about personal loans in Minneapolis to help you get started.

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Our Personal Loan Methodology

To come up with this guide, our team at MoneyGeek reviewed more than 30 personal loan lenders using over 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

We determined our top picks for each ranking category by evaluating several individual data points that are most relevant when choosing a personal loan lender. These factors include APR ranges, available loan amount, minimum credit score, minimum income amount, application fees and disbursement time.

Here at MoneyGeek, we value you, the consumer, so we also factored in each lender’s service quality as measured by its customer support, business ratings and additional features that could make your loan application experience easier and more accessible, like prequalification, payment options and mobile apps.

Our top picks are the result of careful consideration and calculation and were determined with your best interest in mind. These personal loan recommendations and expert tips are meant to help you make the best decision when choosing the best personal loans in Minneapolis for your needs.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.